Asset Tracing & Recovery in Russia:
Finding Assets Before They Disappear

Pravo-300 · 8 years |

Best Lawyers Russia |

Kommersant |

1,000+ matters |

15+ years

Practice · Est. 2009 · Practice No. 03

About This Practice

The recovery of assets from a Russian debtor who does not wish to pay requires a different set of skills from the recovery of a straightforward commercial debt. The debtor knows the Russian banking system, the Russian corporate registry, the Russian court system, and the speed at which assets can be moved. An overseas creditor who begins asset tracing six months after judgment — without a systematic understanding of where to look and what legal instruments are available — will frequently find that the exercise is expensive and returns little. At Vetrov & Partners, our asset tracing and recovery practice combines investigative work with procedural expertise: we identify where assets are, assess their legal reachability, apply for interim relief to preserve them, and manage enforcement proceedings. For overseas creditors and international law firms acting on cross-border recovery mandates, we provide the Russian procedural track from investigation through to distribution.

Who We Act For

Our instructions come from foreign creditors seeking recovery against Russian-situated assets, international law firms acting on cross-border enforcement mandates, and overseas companies that have obtained judgments or awards against Russian parties.

Client situations we act for:

You have obtained an ICC, LCIA, or HKIAC award against a Russian respondent. The award has not been satisfied. You need Russian counsel to identify the respondent's assets in Russia and manage recognition and enforcement proceedings — with interim relief filed before the respondent receives notice, where possible.

You are a foreign creditor in Russian insolvency proceedings. You believe the debtor transferred significant assets to affiliated entities in the period before the filing. You need to trace those assets, establish their connection to the debtor, and challenge the transfers under the insolvency statute.

You are an international law firm acting for a client who has obtained a favourable judgment in a foreign court. The judgment debtor has assets in Russia — real property, shares in a Russian company, or funds in a Russian bank account. You need Russian counsel to advise on the recognition of the foreign judgment and the enforcement options available in Russia.

You are in-house counsel at a foreign group. A former management team at your Russian subsidiary appears to have misappropriated company funds and moved them to third-party accounts or structures. You need an investigation, asset tracing, and a strategy for recovery — including whether criminal proceedings in Russia are the most effective route alongside civil claims.

You are a distressed fund with a position against a Russian debtor whose assets appear to have been moved offshore before the insolvency filing. You need Russian counsel to coordinate the tracing work and advise on available enforcement routes both within and outside Russia.

What We Do

We do not conduct asset tracing as a financial investigation exercise and hand the results to litigation counsel. We manage the investigation and the legal proceedings as a single integrated engagement.

Russia's public registries — the Unified State Register of Legal Entities (EGRUL), the State Real Estate Register (EGRN), the vehicle ownership register, and the courts' published case databases — contain substantial information about the corporate structures, property holdings, and litigation history of Russian debtors. We conduct structured registry investigations as the first step in every asset tracing engagement, and we advise on what the public record does — and does not — reveal about the debtor's position.

Corporate and property registry investigations

Before filing a main claim or recognition petition, an application for interim measures under Article 90 of the Arbitrazh Procedure Code can freeze the debtor's bank accounts, restrict share transfers, and prohibit the disposal of real property. The application is filed on the same day as — or, in some circumstances, before — the main claim. We manage interim relief applications as a standard part of every asset recovery engagement, assessing the available evidence of dissipation risk and drafting applications structured to meet the statutory threshold.

Pre-judgment interim relief

We manage the full recognition cycle for foreign arbitral awards under the New York Convention and for foreign court judgments where enforcement is available under bilateral treaty or the court's discretion. Once recognition is obtained, we manage the enforcement proceedings — including enforcement writs directed at specific bank accounts, the compulsory sale of real property, and the recovery of shares in Russian companies.

Recognition and enforcement of foreign awards and judgments

Enforcement against a Russian judgment debtor involves identifying which enforcement mechanism applies to each class of asset. Bank account enforcement is managed through the Federal Bailiff Service or direct bank notification under Article 8 of the Enforcement Proceedings Law. Share enforcement involves notification to the relevant share registrar. Real property enforcement requires separate enforcement proceedings with the Federal Bailiff Service. We manage each class of asset through its specific enforcement route.

Enforcement against specific asset classes

Where a debtor has moved assets — to nominees, to affiliated companies, to overseas structures — we investigate the movement through available Russian sources, including corporate registry filings, judicial databases, and — where instructed and appropriate — engagement with specialist forensic investigators. We advise on the legal routes for challenging the movements, including transactions challenges in insolvency proceedings and direct claims against asset recipients.

Investigation of asset movements

In cross-border asset recovery mandates, assets may be located in multiple jurisdictions. We manage the Russian element of the recovery strategy as a standalone track and coordinate with overseas counsel managing enforcement in other jurisdictions — including on the interaction between freezing orders and the transfer of information about Russian-situated assets.

Coordination with overseas counsel

By the Numbers

Representative Matters

Acted for European trading company. Obtained interim asset freeze before recognition petition served. Full enforcement achieved within six months.

European award-holder · ICC award recognition + pre-enforcement asset freeze · Russia

Mapped debtor's corporate structure across three Russian entities. Identified three pre-insolvency transfers. Filed and obtained challenge to two transfers under Art. 61.2.

Distressed fund · asset tracing · pre-insolvency transfers challenged · Russia

Acted as Russian counsel on recovery mandate with parallel proceedings. Managed Russian enforcement track. Coordinated interim measures with overseas freezing order.

International law firm · cross-border enforcement · Russian assets + third jurisdiction

Conducted registry-based asset tracing of former Russian management. Filed civil claim. Advised on parallel criminal complaint under Article 159 of the Criminal Code.

Foreign company · misappropriation investigation · former management · civil + criminal

Managed enforcement proceedings against secured real property following debtor default. Obtained enforcement writ. Compulsory sale completed within regulatory timetable.

Foreign bank · enforcement of loan security · Russian real property

info@vetrovpartners.com
+7 (983) 510-38-76
t.me/vitvetcom
under 2 hours (Mon–Fri 09:00–20:00, Sat 10:00–15:00 UTC+7)

The Partner

Vitaliy Vetrov, Managing Partner

Vitaliy Vetrov leads Vetrov & Partners' asset tracing and recovery practice, acting for foreign creditors, international law firms, and overseas investors in enforcement and recovery proceedings against Russian-situated assets. He has managed asset recovery instructions from the initial investigative phase through to enforcement against bank accounts, real property, and shareholdings in Russian companies, and he coordinates regularly with overseas counsel on cross-border recovery mandates.

His practice includes the management of interim relief applications filed in conjunction with recognition proceedings, the investigation of pre-insolvency asset movements for challenge under Russian insolvency law, and enforcement proceedings directed at specific Russian asset classes through the Federal Bailiff Service and direct bank enforcement.

We regularly act as Russian counsel alongside international litigation teams, managing the Russian procedural track while lead counsel directs the overall strategy.

Recognised by Pravo-300   ·  Listed in Best Lawyers Russia   ·  Quoted in Kommersant

The Team

Recognition

We do not hold rankings from Chambers Global or Legal 500 in this practice area.

How We Work

Every engagement begins with a short description of your situation sent to one person, who reads it the same day.

We close every matter with a written summary of what was recovered, how, and what — if anything — requires ongoing monitoring.

Step 5 · Matter close

The practice lead remains your primary contact throughout. We report in writing after each material step. For cross-border mandates, we establish a communication protocol with overseas counsel at the outset.

Step 4 · Execution

For matters we accept, we provide a phase-by-phase written scope — covering the investigative phase, the interim relief application (where applicable), the recognition or enforcement proceedings, and the asset enforcement phase. Each phase is separately costed.

Step 3 · Written scope

If the initial exchange suggests a viable instruction, we schedule a thirty-minute call with the practice lead. We will advise on whether interim relief is available before service, which registry sources to investigate first, and what the enforcement options look like for the asset classes you have identified.

Step 2 · Complimentary call

Send us three paragraphs: the nature of your claim, the identity of the Russian debtor (if known), and whether any assets have already been identified. We will respond within two hours with an assessment of the available routes and the realistic timetable.

Step 1 · Initial enquiry

Fees

Our standard billing model is hourly. For defined investigative and enforcement phases, we offer fixed-fee arrangements. For enforcement mandates where the recovery value is quantifiable, we discuss success-fee components in appropriate cases. We do not publish rates; we provide a written estimate within twenty-four hours of your enquiry. We invoice in EUR or USD.

Questions

Last reviewed: May 2026

Related Practices

Corporate Governance for Foreign Shareholders

Business Crime Defence

Restructuring & Insolvency for Foreign Creditors

Cross-border Disputes & Arbitration

Insights

"Freezing Russian Assets: The Interim Relief Playbook for Foreign Creditors"

Vetrov

"Enforcing Against Russian Bank Accounts: The Direct Bank Route Under Article 8"

Vetrov

"What Russia's Public Registries Reveal — and What They Don't"

Vetrov

Make an Enquiry

ALTERNATIVE CONTACTS
Email: info@vetrovpartners.com
Phone (office): +7 (383) 310-38-76
Mobile / WhatsApp / Telegram: +7 (983) 510-38-76
Telegram channel: t.me/vitvetcom
Hours: Mon–Fri 09:00–20:00 · Sat 10:00–15:00 (UTC+7)
Response: Under 2 hours (business hours)

ADDRESS:
Deputatskaya Street 46, Office 1191, 19th Floor
Novosibirsk, Russia

Vetrov & Partners is a Russian-qualified law firm. For matters governed
by foreign law or requiring local admission in other jurisdictions,
we collaborate with trusted counsel in the relevant jurisdiction.

Vetrov & Partners · Boutique Law Firm · Established 2009 · Russia

The contents of this page are provided for informational purposes and
do not constitute legal advice. No solicitor–client relationship is
formed by reading this page. Vetrov & Partners is registered and
practising in Russia. © 2026 Vetrov & Partners.